Luminent Mortgage Capital Inc., San Francisco, has priced a public offering of 12 million shares of common stock at $14 per share.The company was formed in April 2003 to invest primarily in agency and other highly rated single-family mortgage-backed securities, Luminent said. It is externally managed and advised by Seneca Capital Management LLC and organized as a real estate investment trust. Friedman, Billings, Ramsey & Co. is the managing underwriter of the offering, and the co-managers are Credit Suisse First Boston LLC, JMP Securities LLC, and Flagstone Securities LLC. The REIT can be found online at http://www.luminentcapital.com.

Subscribe Now

Authoritative analysis and perspective for every segment of the mortgage industry

30-Day Free Trial

Authoritative analysis and perspective for every segment of the mortgage industry